Brookfield Launches $10B BGTF II Fund for Clean Energy Transition

Feb 6, 2024 01:18 PM ET
  • Brookfield Asset Management raises $10 billion for its second Global Transition Fund, targeting clean energy expansion and sustainable solutions, led by Mark Carney and Connor Teskey.

Brookfield Asset Management has raised $10 billion in the initial closing of its second Brookfield Global Transition Fund (BGTF II), which focuses on investing in clean energy expansion and sustainable solutions. The fund aims to transform carbon-intensive sector companies into more sustainable business models. Mark Carney and Connor Teskey will lead the fund, targeting investments that accelerate the global transition to a net-zero economy while delivering strong risk-adjusted returns for investors. The previous fund, BGTF I, closed at $15 billion in June 2022 and has been largely deployed or committed to various renewable power and carbon capture investments.

In addition, Brookfield is considering raising $1-1.2 billion from the Indian market by selling some of its 1.6 GW renewable assets. The company has already engaged JP Morgan to manage the process. Brookfield has invested around $25 billion in the Indian energy market since 2014 and currently has a clean energy portfolio of about 20 GW of wind and solar assets. It has also partnered with Axis Energy Ventures to expand its solar and wind asset portfolio, with an investment of $845 million from the Brookfield Global Transition Fund-II.

Will Brookfield Asset Management sell renewable assets in the Indian market?

  • Brookfield Asset Management has raised $10 billion in the initial closing of its second Brookfield Global Transition Fund (BGTF II), which focuses on investing in clean energy expansion and sustainable solutions.
  • The fund aims to transform carbon-intensive sector companies into more sustainable business models.
  • Mark Carney and Connor Teskey will lead the fund, targeting investments that accelerate the global transition to a net-zero economy while delivering strong risk-adjusted returns for investors.
  • The previous fund, BGTF I, closed at $15 billion in June 2022 and has been largely deployed or committed to various renewable power and carbon capture investments.
  • Brookfield is considering raising $1-1.2 billion from the Indian market by selling some of its 1.6 GW renewable assets.
  • The company has engaged JP Morgan to manage the process of selling its assets in the Indian market.
  • Brookfield has invested around $25 billion in the Indian energy market since 2014.
  • Currently, Brookfield has a clean energy portfolio of about 20 GW of wind and solar assets in India.
  • Brookfield has partnered with Axis Energy Ventures to expand its solar and wind asset portfolio in India.
  • The partnership involves an investment of $845 million from the Brookfield Global Transition Fund-II.
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Source:
saurenergy.com

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